St. Pete: eighth best city for Hispanic entrepreneurs

ST. PETERSBURG — Wallet Hub, a financial website for consumers and small business owners, ranked St. Petersburg as the eighth best large city in the United States for Hispanic businesses owners.

The 2014 Best and Worst Cities for Hispanic Entrepreneurs ranking was created based on several factors designed to determine both the Hispanic purchasing power in each area and the business friendliness.

Purchasing power was ranked based on eight factors including the median annual income, unemployment rate and income growth of Hispanics, housing affordability and percentage per capital and population growth. Business friendliness looked at the share of businesses owned by Hispanics, five-year survival rate of those businesses, corporate tax, average workday, small business loans per business and more.